Varonis Systems, Inc. (VRNS) Rating Reiterated by Jefferies Group LLC
Varonis Systems, Inc. (NASDAQ:VRNS)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a research report issued on Thursday. They currently have a $45.00 target price on the technology company’s stock. Jefferies Group LLC’s price objective points to a potential upside of 15.24% from the stock’s previous close.
VRNS has been the subject of several other research reports. BidaskClub downgraded shares of Varonis Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $42.00 price objective on shares of Varonis Systems in a report on Thursday, July 20th. Barclays PLC reiterated a “hold” rating and issued a $45.00 price objective on shares of Varonis Systems in a report on Wednesday, July 19th. Needham & Company LLC increased their price objective on shares of Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Varonis Systems in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $42.60.
Varonis Systems (NASDAQ VRNS) traded down 0.576% on Thursday, reaching $38.825. The company had a trading volume of 109,707 shares. The firm’s market capitalization is $1.07 billion. The company’s 50-day moving average price is $37.99 and its 200 day moving average price is $34.39. Varonis Systems has a 1-year low of $24.45 and a 1-year high of $40.00.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. The firm had revenue of $50.20 million during the quarter, compared to the consensus estimate of $47.50 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities analysts forecast that Varonis Systems will post $0.09 EPS for the current year.
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In other news, CFO Guy Melamed sold 6,562 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $39.50, for a total value of $259,199.00. Following the completion of the sale, the chief financial officer now owns 104,653 shares of the company’s stock, valued at approximately $4,133,793.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ohad Korkus sold 57,938 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $39.04, for a total transaction of $2,261,899.52. Following the completion of the sale, the insider now directly owns 214,108 shares of the company’s stock, valued at approximately $8,358,776.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,081 shares of company stock valued at $12,392,721. 19.50% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Castleark Management LLC purchased a new stake in shares of Varonis Systems in the 2nd quarter valued at approximately $7,861,000. California State Teachers Retirement System grew its stake in shares of Varonis Systems by 61.3% in the 2nd quarter. California State Teachers Retirement System now owns 33,934 shares of the technology company’s stock valued at $1,262,000 after buying an additional 12,900 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Varonis Systems by 72.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,081 shares of the technology company’s stock valued at $561,000 after buying an additional 6,340 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Varonis Systems in the 2nd quarter valued at approximately $2,897,000. Finally, Symmetry Peak Management LLC purchased a new stake in shares of Varonis Systems in the 2nd quarter valued at approximately $279,000. 82.41% of the stock is owned by institutional investors and hedge funds.
Varonis Systems Company Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Data Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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